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leex1528
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October 21, 2015, 07:42:33 PM |
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I wouldn't say it is better. They are both different things.
As a matter of fact I would say it is worse at some aspects. For one, I know my bank is going to back up anything that gets stolen or hacked.
If my Bitcoin account gets hacked or anything, I am screwed. There is no chance of me recovering those funds.
Just one way that Fiat is still somewhat good.
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Kazimir
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Activity: 1176
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October 21, 2015, 07:47:47 PM |
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For one, I know my bank is going to back up anything that gets stolen or hacked. Exactly who do you think it is that actually pays for that insurance, in the end? If my Bitcoin account gets hacked or anything, I am screwed. There is no chance of me recovering those funds. Your Bitcoin what? There are no "accounts" whatsoever with Bitcoin. And actually, you can backup your Bitcoin wallet. For example if you have a mobile phone and your phone gets stolen, it's password protected so the thief can't spend your coins, and you can have a backup to put back your funds on a new phone. Try that with cash (fiat) money  |
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leex1528
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October 21, 2015, 07:49:23 PM |
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For one, I know my bank is going to back up anything that gets stolen or hacked. Exactly who do you think it is that actually pays for that insurance, in the end? If my Bitcoin account gets hacked or anything, I am screwed. There is no chance of me recovering those funds. Your Bitcoin what? There are no "accounts" whatsoever with Bitcoin. And actually, you can backup your Bitcoin wallet. For example if you have a mobile phone and your phone gets stolen, it's password protected so the thief can't spend your coins, and you can have a backup to put back your funds on a new phone. Try that with cash (fiat) money My Bitcoin wallet, if the funds get drained from there there is not getting them back. I can try and try but I will never find the coins ever again. There is some good to having Gov't control fiat, I am not saying it is all good there is just some. |
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chennan
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October 21, 2015, 08:01:04 PM |
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For one, I know my bank is going to back up anything that gets stolen or hacked. Exactly who do you think it is that actually pays for that insurance, in the end? If my Bitcoin account gets hacked or anything, I am screwed. There is no chance of me recovering those funds. Your Bitcoin what? There are no "accounts" whatsoever with Bitcoin. And actually, you can backup your Bitcoin wallet. For example if you have a mobile phone and your phone gets stolen, it's password protected so the thief can't spend your coins, and you can have a backup to put back your funds on a new phone. Try that with cash (fiat) money My Bitcoin wallet, if the funds get drained from there there is not getting them back. I can try and try but I will never find the coins ever again. There is some good to having Gov't control fiat, I am not saying it is all good there is just some. Yeah, I mean you do have the possibility of getting your private key stolen if you keep your key on your computer somewhere... but that all can be avoided by keeping your private key on a piece of paper, and not clicking on any random links that could pose as phishing attacks. Other than that, the chances of someone hacking into your wallet are pretty much slim to none. |
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Kazimir
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October 22, 2015, 10:45:17 AM |
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My Bitcoin wallet, if the funds get drained from there there is not getting them back. How the hell would funds get drained from your wallet? You control it, you can keep it 100% offline if you want, and plenty of more very easy measures that will avoid any risk. There is some good to having Gov't control fiat, But the government doesn't control fiat whatsoever. Fiat money is like World of Warcraft Gold, or Linden Dollars, except the banks have to role of Blizzard or Linden Lab. |
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electronicfactura
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October 22, 2015, 11:23:06 AM |
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Bitcoin gives you easy access to your fund from anywhere with internet connection and you need not to use third parties services to purchase/transfer funds online.Where fiat doesn't give these facility directly.
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user64
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October 22, 2015, 01:30:11 PM |
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Bitcoin is not better than fiat, bitcoin needs fiat to survive. On the other hand fiat does not need bitcoins!! A laymans view.
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Amph
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October 22, 2015, 02:21:53 PM |
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Bitcoin is not better than fiat, bitcoin needs fiat to survive. On the other hand fiat does not need bitcoins!! A laymans view.
one could argue that i can buy everything directly with bitcoin, this is not the case for now only because of the acceptance which is still in its infancy in the future this will change if bitcoin will acquire notoriety |
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thejaytiesto
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October 22, 2015, 02:31:06 PM |
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Low fees
The problem is that even if the transactions are low fees, if people need to buy the Bitcoins they get usually extra fees because they need to convert their dollar or euro into Bitcoin and back, this is frustrating. We need a real Bitcoin economy and this means payments in Bitcoin. I hope that once "let a fee market develop" thing starts the fee isn't high enough that there are no incentives to use it daily, that would suck. |
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winguard
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October 22, 2015, 02:41:54 PM |
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Bitcoin's value is tied to fiat and still in early stages which needs mainstream adoption so they are equal at moment. Man can't wait till i can buy pizza with bitcoin in my place.
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beepboopbeep
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October 22, 2015, 02:46:50 PM |
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It is possible to avoid taxes using bitcoin if you are smart about it.
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gogxmagog
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Ad maiora!
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October 22, 2015, 07:25:09 PM |
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It gets more valuable the longer you hold it. Exponentially. It's basic deflationary nature. This blows fiat out of the water and will leave it by the wayside for good. Soon.
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cjmoles
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October 26, 2015, 01:51:05 AM |
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This is a loaded question! Bitcoin is NOT better than fiat...period! I would much rather have a suitcase full of cold green United States hundred dollar bills than a digital wallet holding the same amount in bitcoin. Maybe someday when I can go into a store to buy toilet paper, into a bar to have a beer, or to my landlord to pay my rent with bitcoin, I would think differently....that time hasn't come.
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quantumgravity
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October 26, 2015, 02:26:07 AM |
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You don't have to deal with banks.
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visual111
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October 26, 2015, 02:31:09 AM |
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the world is clearly moving into a more electronic era. Bitcoin is a superior electronic currency...
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Kevin77
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October 26, 2015, 05:51:51 AM |
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the world is clearly moving into a more electronic era. Bitcoin is a superior electronic currency...
We need to agree the entire world marching towards age of electronics. So, bitcoin will be acceptable by people as it's in electronic format and definitely better than fiat currencies. In the world of electronics, bitcoin will be the universal medium of exchange for sure. |
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designerusa
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October 26, 2015, 08:28:29 AM |
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To me it is "near to zero" transaction fees. Also it is decentralized so hard to control and manipulate by big institutions.
Goverment for example. They cannot really regulate btc or tax.
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Amph
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October 26, 2015, 11:07:51 AM |
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the world is clearly moving into a more electronic era. Bitcoin is a superior electronic currency...
bitcoin need to embrace phisical shop too, if it want to expand it faster around the globe relying only on online shop can cut a big portion of adoption, prematurely |
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prodigy8
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October 26, 2015, 11:22:36 AM |
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bitcoins this, bitcoins that. blah blah blah!!! You all keep dreaming, not in our lifetime. The only ones that find it useful are scammers and a few exchangers who might scam anytime they like. I cant even buy cofee with it! the technology and idea behind it is cool and novel, but it will never become mainstream .
This makes as optimistic and we hope for the best to happen in the near future. If you hear bitcoin here bitcoin there then you should know that you are in a bitcoin forum. Where we mostly talk about bitcoin The new technology trend can change bitcoin value and popularity. Bitcoin would be the future regardless of what ever happen in economical trends in coming years. Only better thing can survive regardless of how long which has been used. So, in the race of fiat and bitcoin, bitcoin would be the winner for use's most affordable and ease of usage wise. I think that while we earn in fiat and our salary is going through banks, We are already paying tax/vat for the country and health insurance. While earning through bitcoin you get more and you have not to pay these unnecessary 'fees' |
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neurotypical
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October 26, 2015, 04:26:55 PM |
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To me it is "near to zero" transaction fees. Also it is decentralized so hard to control and manipulate by big institutions.
Goverment for example. They cannot really regulate btc or tax.
Right now the only people that can manipulate Bitcoin is big investors tho... anyone that is rich on dollars or euro or Chinese yen or whatever, can go to any exchange, deposit a lot of money and start moving it at will. How to solve this? get more people on board. More people and more whales with opposed agendas is what makes the price go to Pluto while keeping it hard to compromise at will. |
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